Federal Loans

Loan Funds Status

Federal student loans are funds which a student or parent may borrow for educational
purposes. A loan is borrowed money and must be paid back with interest. When considering loans, it is important to understand who is making the loan and the
terms and conditions. Federal student loans usually offer lower interest rates and more flexible repayment
options to borrowers than a loan from a bank or a private source.

In order to receive loan funds, you must complete the following steps:

After submitting the Free Application for Federal Student Aid (FAFSA), you will receive
an Award Notice. If you are awarded a student loan, you will receive processing instructions
with the Award Notice.

Loans need to be accepted or declined through your Student Center on UAConnect.

Next, you must complete the Master Promissory Note via the StudentLoans.gov site.

Before funds are disbursed, you must also fulfill the requirements of enrolling at
least half-time and complete Entrance Counseling via the StudentLoans.gov site. (Required only the first time you borrow at the University of Arkansas. Graduate
PLUS Entrance Counseling required for first time Graduate PLUS loans).

The funds will then be sent directly to the University of Arkansas.

Remember that changing enrollment to less than full-time may cause changes in your
financial aid.

Once your funds have arrived, an email will be sent to your UARK account. To view
your Account Detail, you will need to log into your Student Center and follow the path: Home > Student Center > Finances > View Financial Aid.

After selecting the aid year you wish to view, you will see your financial aid broken
down by the term. If you care to see the details of each term, you can select the
corresponding link.

Your loan information will also be available through the National Student Loan Data
System (NSLDS). Their web address is nslds.ed.gov. All loan information will be submitted to NSLDS and will be accessible by guaranty
agencies, lenders, and institutions determined to be authorized users of the data
system.

If you have any questions regarding your financial aid, please come by the Office
of Financial Aid or contact your counselor.